bank regulation

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Why We Need a Bank Tax
 Why We Need a Bank Tax 
OPINION
Apr 28, 2010 9:59 AM CDT

Why We Need a Bank Tax

There will be future bailouts, so make banks pay their share

(Newser) - The recent financial crisis wasn't the first time banks needed a taxpayer bailout, and it won't be the last. That's why a bank tax is the best way to protect taxpayers from the cost of future crises, David Leonhardt writes in the New York Times —better than the current...

Voinovich to Break GOP's Finance Filibuster

And he expects 'a whole bunch' of Republicans to join him

(Newser) - If Senate Republicans don't strike a deal with Democrats on financial reform soon, George Voinovich is going to cross party lines to insist on a floor debate—and he expects “a whole bunch” of other Republicans to make the same decision, he said yesterday. The American people “want...

Republicans Want to Abolish Financial Firemen
Republicans Want to Abolish Financial Firemen
Paul Krugman
Apr 16, 2010 9:08 AM CDT

Republicans Want to Abolish Financial Firemen

McConnell is doing Wall Street's bidding

(Newser) - Mitch McConnell wants to abolish fire departments—they just bail out burning buildings. We won’t get out of this mess until the biggest buildings are allowed to burn! That’s essentially what McConnell’s latest assault on financial reform amounts to, writes Paul Krugman in the New York Times ...

Obama to GOP: Go Ahead, Make My Day
Obama to GOP:
Go Ahead,
Make My Day
Apr 15, 2010 10:08 AM CDT

Obama to GOP: Go Ahead, Make My Day

He won't compromise on financial reform; dares them to vote nay

(Newser) - After a tense meeting on financial reform with GOP leaders yesterday, Barack Obama put on his Michael Corleone face and told them his final offer was this: nothing. The president made it clear that he wouldn’t accept any compromise that would weaken the legislation, and essentially dared Republicans to...

Republicans Say Financial Reform Will Pass

'This is so unlike the health care debate,' says Bob Corker

(Newser) - Two top Republican Senators say Barack Obama’s bid to overhaul the financial regulatory system is sure to get through the upper chamber. “This is so unlike the health care debate,” Bob Corker told Politico , saying Republicans had made a “major strategic error” by refusing to negotiate...

Boehner to Bankers: Beware Pro-Reform 'Punk Staffers'

Still, House minority leader says bill will take a year to pass

(Newser) - John Boehner gave comfort to an “enthusiastic” gathering of bankers yesterday, telling them that even if the Senate passes financial reform legislation it will languish in the House for many moons. “It’s just as likely that we’ll be talking about the same issue a year from...

SNL Presidents Return to Push Financial Reform

Will Farrell, Dana Carvey and more return

(Newser) - The SNL presidents—from Will Ferrell’s George W. Bush to Chevy Chase’s Gerald Ford—have teamed up to produce a sketch advocating financial regulatory reform. OK, Phil Hartman wasn’t brought back from the dead to do Reagan, but Jim Carrey provides a worthy fill-in. The video was...

Krugman on Finance Reform: Go Big, or Go Home
Krugman on Finance Reform: Go Big, or
Go Home
OPINION
Mar 1, 2010 8:15 AM CST

Krugman on Finance Reform: Go Big, or Go Home

No reform better than current Senate bill

(Newser) - Paul Krugman comes out against passing a watered down financial regulatory reform bill today, saying the current Senate bill would provide only a “false sense of security and a fig leaf for politicians opposed to any serious action.” Republicans, driven by bank lobbyists and their strategy of opposing...

Obama Ready to Compromise on Finance Reform

Would sacrifice standalone consumer agency to pass bill

(Newser) - The Obama administration says it’s willing to scrap elements of its financial regulatory reform effort—particularly a standalone consumer protection agency—if it’ll help the bill sprint through Congress. Republicans have complained that a standalone agency would be a new bureaucracy, so team Obama says it’s open...

Banks Blitz Customers to Keep Overdraft Fees Coming

$20B in penalty fees threatened by Fed's new opt-in rule

(Newser) - Expect your mailbox to be stuffed in the coming weeks with entreaties from your bank, which desperately wants you to sign up for pricey overdraft fees it used to be able to slip into the small print. Under new Fed rules going into effect July 1, bank customers must opt-in...

Banks' Lobbying Blitz a Betrayal of Public Trust
Banks' Lobbying Blitz a Betrayal of Public Trust
ELIZABETH WARREN
Feb 9, 2010 8:50 AM CST

Banks' Lobbying Blitz a Betrayal of Public Trust

After toppling economy, Wall St. now opposes consumer protections?

(Newser) - “Banking is based on trust,” Elizabeth Warren argues in the Wall Street Journal , yet lately banks have “thrown away customer trust like so much worthless trash.” After ripping off the public for years with deceptive mortgages and credit card tricks, they’re now lobbying furiously against...

Sarah Palin, Tea Partiers Are Actually Anti-Populist

The real Populists were anti-Wall Street and for big government

(Newser) - Calling what Sarah Palin and the Tea Partiers practice “populism” is backwards, writes Peter Beinart. In fact, they’re “anti-Populists.” The original Populists, in the late 19th century, “cursed Washington because it wasn’t powerful enough” to protect the people from the greed of “the...

Miffed at Obama, Wall St. Closes Wallet to Democrats

GOP swoops in to take advantage of 'buyer's remorse'

(Newser) - As President Obama pushes for tighter regulation of the financial industry, offended Wall Street donors are shifting ever more money to the Republicans. Obama's financial ties helped him pull in record Wall Street donations in 2008; now his policy proposals and anti-fat-cat rhetoric have the industry grumbling that "even...

Dodd, Shelby at 'Impasse' Over Financial Reform

Prospect of bipartisan deal fades

(Newser) - Attempts to craft a bipartisan financial regulatory overhaul have broken down, Chris Dodd announced today, raising the possibility of another partisan brawl like the health care debate. “Last night, Senator Shelby assured me that he is still committed to finding a consensus,” the Senate Banking Committee chairman said...

Scott Brown Got Late Push From Wall Street

Financial firms poured $450,000 into his Senate campaign

(Newser) - In the 6 days before the special election for US senator from Massachusetts, employees of financial companies gave a whopping $450,000 to Scott Brown. The donations came just after President Obama proposed a fee on Wall Street’s biggest players to help pay back lost TARP funds. The influx...

Volcker Trumps Geithner With Tough Bank Rules

Treasury Secretary's influence over Obama fading

(Newser) - Paul Volcker scored a major victory yesterday as Barack Obama endorsed his proposal for tough new bank regulations over the objections of Tim Geithner. Obama even dubbed the proposal, which would prevent banks from making speculative investments that don't benefit their customers, the “Volcker Rule.” It’s a...

Europe Applauds Bank Crackdown; Markets Swoon

Bank shares hit hard by pledge to curb risk-taking

(Newser) - European leaders today lauded President Obama's plan to limit the size and risk-taking of the nation's banks, but stock markets worldwide were rattled. Asian markets fell sharply today and European markets opened down, following a 213 point drop in the Dow yesterday, its biggest 2-day loss since March. Europeans said...

Crisis Probe Bares Fools' Guilt-Free Fantasy
Crisis Probe Bares Fools' Guilt-Free Fantasy
PAUL KRUGMAN
Jan 15, 2010 2:37 AM CST

Crisis Probe Bares Fools' Guilt-Free Fantasy

Deregulation, greed made crash inevitable

(Newser) - The Financial Crisis Inquiry Commission hasn't extracted admissions of wrongdoing from top bankers, but it has exposed stunning cluelessness among the captains of American finance, writes Paul Krugman. The honchos testified that a financial crisis is something that just happens from time to time, Krugman writes in the New York ...

Now Dodd Can Make a Real Difference
Now Dodd Can Make a Real Difference
Jan 7, 2010 11:37 AM CST

Now Dodd Can Make a Real Difference

Lame duck can cut a deal with GOP on financial oversight

(Newser) - Sen. Chris Dodd’s decision not to seek reelection could make financial regulatory reform more likely while burnishing his own tainted legacy. Oddly, the route to legislative success for the historically Wall Street-connected Dodd would require him to back away from the more populist, pro-consumer stance he took when his...

Banks Screw Customers in Regulatory Pout
Banks Screw Customers in Regulatory Pout
OPINION
Jan 6, 2010 9:18 AM CST

Banks Screw Customers in Regulatory Pout

Fees soar in revenge for tougher rules in the works in Congress

(Newser) - With a slew of new regulations headed their way, banks are jacking up their fees and credit card rates, in a blatant attempt to squeeze every last penny out of their customers. They say they’re just trying to recoup the money these new consumer protections will cost them. For...

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